Financial services leaders expect employees back in the office – KPMG

More than three quarters (76%) of financial services leaders across the UK are planning to increase office attendance in the next 12 months, new research from KPMG UK has found.

Out of 150 leaders surveyed by Opinium on behalf of KPMG between 17 and 23 September 2024, 37% specified that they expect employees to be in the office at least four days a week.

To track and monitor attendance, around 45% said they would use office card swipe systems, followed by timesheets (40%) and the installation of digital cameras (29%).

Karim Haji, global and UK head of financial services at KPMG, said “there is no one-size fits all approach to this and businesses are still trying to find the hybrid working sweet spot more than two years on from the pandemic”.

He added: “Leaders see the commercial value of hybrid working models, particularly when it comes to attracting and retaining talent, but they are still expecting greater office attendance in the coming months to retain collaboration with colleagues and clients.

“Leaders also have to balance regulatory and risk pressures as part of managing hybrid models, which will be a contributing factor for getting staff back into the office.”

Hybrid working model

Although financial services were a first mover in returning staff to the office post-Covid 19 pandemic, the survey findings further showed that firms still see the value of a hybrid working model.

For example, over half (58%) of respondents believe a hybrid working model is a competitive opportunity for the sector, while 20% said the opportunity was significant.

A separate study by KPMG in July 2023 also found that just 10% want to work in the office full time and all age groups of employees said flexibility around hybrid working was important when choosing a job.

Haji said: “What is important is that companies find the right balance that works for their business and their employees.

“This will ensure that the sector retains good people and fosters a collaborative, productive culture that is successful and competitive.”